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The question

Is zakat obligatory on a residential plot of land that was purchased to preserve money for an orphaned daughter, and not for trade or construction? And is its zakat assessed like that of gold?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

is obligatory on the value of land if there was an intention to sell it at the time of purchase, because it is considered an article of trade. If a year passes on it, its value is assessed, and its zakat (one-quarter of one-tenth of its value) is paid at the end of each year. However, if there was no intention to sell at the time of purchase, but rather it was bought to preserve wealth or to build upon, then zakat is not obligatory on it.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
122029
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy